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A mortgage loan IS simple interest and most car loans are rule of 78. Chrysler, Ford, GM ect use the rule of 78 while Credit Unions mostly use the simple interest.
"An auto loan is more like simple interest although they screw you using rule of 78..."
The loan payoff can't use both! The payoff is when it come into effect.
Your on right on with the Digital Camera comment. From what I heard he used a Nikon Coolpix 880 digital camera. Lets hope the camera got it right.
"I am paying more interest from month one with the 30 year, paying the same amount as the 15 year - it doesn't matter how much principal you pay,"
I telling you that is wrong if I ever heard it. Ask your bank if: you take the 30 year loan and pay as a 15 year loan, will it cost me a penny more. Please ask them and see what answer you get. You have to remember that a mortgage loan is amortized very differently than a car loan. Most car loans use the rule of 78 while mortgage loans use SIMPLE interest.
Simple is simple! sorry I could not resist.
"it doesn't matter how much principal you pay, the interest is greater because the rate is higher, right?"
Yes, you pay 1/2 pt more from day one for the 30 year but you get 15 additional years to pay it the loan back. So you get something in return for the 1/2.
I want to own it all in the event of economic calamity
That is good thinking but remember the 15 loan give you the obligation of 15 years and the 30 year loan give you the obligation and the "right" to pay off early with no additional interest if you paid it as a 15 year loan. If you lose your income for a few month you can pay less and avoid any costly late charges and possible protect your credit.
Here is a good read "Lightning between Earth and Space". Basically it's lightning that goes up not down from the clouds. Since our sky is Blue it's hard to see it.
http://www-star.stanford.edu/~vlf/optical/press/mende97sciam/#author
I and a few friends still like the blue jet theory.
I am sure you will enjoy this link. You might be very good in explaining it.
http://www.fusionanomaly.net/elfspritejetTS.gif
I was about to say that to ZEEV. Just a few days ago on another site, we talked about a BLUE JET theory. Lightning going UP not down.
We'll I have a Finance Degree and not a teaching certificate so I will try to explain better. No difference of interest paid for the 30 year loan if you pay it like a 15 year loan. The lender will give you about 1/2 point better rate for the 15 year loan. The extra 1/2 pt buys another 15 Years to pay which is a bargain when you look at previous rates the last 40 years. CoalTrain was right....under 6% we should be asking for 40 years
It is very simple, take the 30 year loan and treat it as a 15 year loan. You don't pay a dime more in interest. The 1/2 point rate increase gives you the option of paying less on months when you are short cash flow. You can make it up months later and save yourself some dings on credit and/or late charges. Better yet, invest the difference in payments to earn more than 5.5% and have the bank make you a profit.
30 year loan = Flexability
15 year loan = stuck with no room to deviate.
ps. Most loans NOW have no prepayment penalty because they want you to pay it back sooner. They want to stick you with prepayment penalty when they have you locked at a high rates. This fact in itself should give away the banks game.
That is my whole point. Get the 5.5% for as long as you can. No way can you get hurt.
IHUB site has been down all night. For some reason I could not post.
"you end up paying more interest with the 30 year, not to mention that the interest amount per year drops faster with a 15 year than a 30 year."
Not true. You are not penalized more by taking a 30 year loan. That is what lenders tell you and want you to believe. To prove it, you can take a 30 year mortgage and pay it as if it was amortized for 15 years and pay no more interest than a 15 year loan from day one. Taking the 30 year loan at TODAYS low rate and pay the mortgage as if it is a 15 year loan, so you will have the option to pay less on months of unexpected expenses. For the person who wants more flexablity (which I advocate) paying the difference into an interest bearing account every month and wait for the day CDs pay more that 5.5%. That way it will reduce your 5.5% even more.
For Example, Just think if rates go to 8.5% (which was not long ago) and you had the 5.5% 30 year loan and the bank was paying you 7% on the CD for the ACCUMALATED difference. You would be smiling all the way to the bank.
I agree. If you can dicipline, a 30 year is more flex than a 15 year. You can get the fix 30 year and pay as if it's a 15 year mort to a interest bearing account. If the rates go up you can make money towards paying off early. 1/2 basis point for additional 15 years is worth it.
Those 200.00 parts that cost 10.00 Cisco bought eventually got passed on to the consumer. Now that the consumer is all tapped out CSCO is finding ways to get the "reported" 1 bllion net income. Do you realise how much money is moving around for CSCO to make 1 Billion net income. The street is blind sided by this and are not asking the right questions. Everyone is still counting on the horse to keep ahead of the race and if for some reason CSCO injures or breaks a leg, the street will not hesitate to shoot it. Until then don't expect the right question to be asked.
"He was lured into sales by an IBM recruiter who told him that selling was about spinning a dream for customers." Just like I said....he tells others what they want to hear. I have to admit he is remarkable.
"He earned a law degree from WVU in 1974" I knew he would make a good lawyer. He has the smoothness of one.
I got a pet rock I will sell ya! But you said it best with the Sushi comment, thanks LOL.
wahz maybe you can take over Chambers job after he leaves. I like how you said that. Like the old saying, it's not what you say..it's how you say it.
mlsoft, all we can do is go by what the CEO says. If not you will miss the flow. And if that day comes like Enron you can short with impunity.
I doubt he was "cool" in high school but his is now. Just like that "cool" dude in High School is now the plumber you see bending over with that crack showing.
This is the way I see Chambers. Remember in High School when someone said something really cool and everyone thought it was great. Then you say the SAME dog gone thing and get laughed out of the park. Chambers is that first dude.
ROFLMAO!!!
"seriously, a lot of background noise on the call." Maybe it's Chambers tearing paper and pulling out plan B. You never know about this Chambers dude. Seriously though, if you could pick ONE CEO to head your technology company who would you pick. My first choice would be Chambers. That man got style.
I have to agree about AMZN.
CSCO and TYC do not belong in the say sentence. CSCO is not "cooked books". The street has a love affair with CSCO that goes way beyond reality. The street needs CSCO as much as CSCO needs them.
Chambers said a few quarters ago the "written off inventory" is not being used to inflate earnings.
I never said they were cheap. hehehe
I knew the word "challenging" would surface. Chambers need a new word he is wearing this on thin.
I would say! 1 billion net income is not bad! Gross Margins around 70% not bad! Lets see how they guide.
What you taallkin about Willis?
Smiling Chambers does not Lie. He tells a story that the other side want to hear. He would have made an excellent attorney. The bad stuff does not sound as bad when he says it. LOL
I don't think that is in the cards. Saddam will fight to the end which may take 3 weeks. The floor is famous for rumors with legs. You would think they would start a rumor that is more believeable. This one won't go far unless Drudge picks up on the rumor, then we can ride them up and ride them down.<!--Beg_Sig--
PS. What the hell is this...."<!--Beg_Sig--". I did not type it.
And I thought Mark Johnson was a snake, John Disney takes the cake. On a lighter note that is why IHUB has ignore button. No qualifications to join IHUB so we just have to deal with it.
He said he was fooling around on his wife while she was out of town. And now he plagiarized Saville article? I have never seen anyone get banned only restricted on this thread. I don't know all the facts but this guy is going to hurt a lot of people, starting with his wife and children (if any).
I agree it was uncalled for. I happen to follow the shuttle for years. As you can see from my recent post about the tragedy in real time on a thread who was looking up in the sky. It just happen to be basserdan posting and could have been any poster who showed no prayers at the time of shock. It was an impluse comment and should have been deleted. I am sorry to basserdan for the comments. We'll I am man enough to tell him I am sorry and we shall see if he is man enough to accept.
Sorry Joe. I should have mentioned I was on a thread that was waiting for the landing of the shuttle. Here is some of the post and you will see why I was upset....... Posting follows.....
Actually, I believe the Shuttle will cross the California coast a little before 6 Pacific.
02/01/2003 5:39 AM PST by leadpenny
I'm watching on NASA TV but I believe you can also watch at nasa.gov
Just north of Hawaii now
02/01/2003 5:42 AM PST by leadpenny
As I write this, the Shuttle should be re-entering the atmosphere of the planet "Earth."
02/01/2003 5:42 AM PST by SamAdams76
To: SamAdams76
We can only hope.
02/01/2003 5:44 AM PST by leadpenny
To: SamAdams76
You were right on - on that call.
02/01/2003 5:46 AM PST by leadpenny
5:51-5:55 will be the times visible over San Francisco area.
02/01/2003 5:48 AM PST by leadpenny
To: leadpenny
This sucker might still be glowing as it passes the cost?
02/01/2003 5:49 AM PST by leadpenny
To: leadpenny
I am up and in vegas. Sounds like I better put some shorts and a t-shirt on and go outside to watch.
02/01/2003 5:53 AM PST by winodog
To: winodog
Just a few minutes away from you.
02/01/2003 5:54 AM PST by leadpenny
To: winodog
45 miles overhead just to the north of you.
02/01/2003 5:56 AM PST by leadpenny
To: leadpenny
Supposed to be passing by around 8:03 here in Dallas.
Getting ready to check it out.
02/01/2003 5:56 AM PST by ken in texas
To: winodog
Wicked!!!! I was just in time to see it streak across leaving a white trail.
02/01/2003 5:57 AM PST by winodog
Hope you have clear skies.
02/01/2003 5:57 AM PST by leadpenny
To: winodog
Was it glowing at all?
02/01/2003 5:58 AM PST by leadpenny
To: leadpenny
It came from just north just like you said. I was out looking already. As soon as I read the time it hits SF and touchdown time I knew I better hurry up.
That is on the list of cooler things I have ever seen.
thanks!
02/01/2003 6:00 AM PST by winodog
15 minutes to touchdown. Heads up north of New Orleans.
02/01/2003 6:01 AM PST by leadpenny
To: leadpenny
It wasnt a glow that spread back like a comet but it must have been "on fire" because it was bright and big.
02/01/2003 6:03 AM PST by winodog
To: winodog
Back in 68 or 69 I stepped out of my BOQ room at Ft. Rucker Alabama just in time to see an orange ball cross from west to east over the Gulf of Mexico. A few minutes later the capsule splashed down in the Atlantic. Glad you got to see this one.
02/01/2003 6:03 AM PST by leadpenny
To: leadpenny
Perfectly clear... what a sight!!!!!
02/01/2003 6:04 AM PST by ken in texas
little commo problem right now.
02/01/2003 6:05 AM PST by leadpenny
Still no UHF commo. They gotta have back up.
02/01/2003 6:07 AM PST by leadpenny
[
Seven minutes to touchdown.
02/01/2003 6:08 AM PST by leadpenny
To: leadpenny
Dang. Found this article at 6:03!
02/01/2003 6:10 AM PST by Riley
No commo for the last 11 minutes. Five minutes to touchdown
02/01/2003 6:11 AM PST by leadpenny
To: Riley
Sorry.
02/01/2003 6:12 AM PST by leadpenny
Don't know if anyone is watching NASA TV but it is awfully quiet.
02/01/2003 6:13 AM PST by leadpenny
By now there would have been cameras on the Shuttle.
02/01/2003 6:13 AM PST by leadpenny
Don't know about the controllers but my pulse is going up.
They are still seeking traking data. Going to contingency procedures.
02/01/2003 6:15 AM PST by leadpenny
To: leadpenny
Contingency procedures.
02/01/2003 6:15 AM PST by don-o
To: All
folks we are at touchdown. Something is wrong.
02/01/2003 6:15 AM PST by leadpenny
To: leadpenny
An unsettling quiet. I hope all is well.
02/01/2003 6:15 AM PST by ken in texas
To: leadpenny
What is going on?
I am sure the families very much appreciate the prayers. I am sure you prosided over many tragedy and comforted many families.
"How long should we morn before talking about "Gold" again." My comments was not to make this a "Mourn" Thread. But the thread was in state of shock at that moment. Every poster at least express grief or sorrow over the events somewhere in their post.
This tragedy is being witness by millions of viewers on film. That is why the shuttle is National News. I am sorry to hear about the scientist.
Now back to stock talk.
p.s. Any comments on the shuttle will is warranted.
Have a heart Dan. Can you put the Gold theory on hold for 5 mins. The Nation is in shock.
The shuttle was 21 years old. I am wondering why they kept it in use for so long.
Not unless they had a pod since the shuttle was going 12,500 mph. This picture link is very upseting.
http://us.news2.yimg.com/us.yimg.com/p/ap/20030201/capt.1044111163.space_shuttle_ny109.jpg